Can any body tell me what is the Tax applicability on Art work like Paintings, sculptures, etc. may be of professional artist possessing qualifying degree or not, ??? i mean on such work whether it is considered as Taxable service n taxed under Service Tax or whether it wd b treated as Manufacture (as such thing fulfills the conditions of movability & Marketability) so Excise duty ll b applicable, n if so then whether VAT is applicable or Woks contract tax would be applicable (both Service Tax n VAT wth reduced %)????
& if Service Tax is applicable then while purchasing such arts/paintings/sculptures to keep them into commercial premises as showpiece or else by Assessee (on whom Tax Audit provisions r applicable) needs to deduct TDS u/s 194J ????
CAclubindia
